Oppenheimer & Co. Inc. Sells 1,904 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Oppenheimer & Co. Inc. cut its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 453,969 shares of the company’s stock after selling 1,904 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in MAG Silver were worth $6,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Tidal Investments LLC bought a new position in MAG Silver in the first quarter valued at about $22,518,000. Allspring Global Investments Holdings LLC bought a new position in shares of MAG Silver in the 2nd quarter worth approximately $9,932,000. TD Asset Management Inc boosted its holdings in shares of MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after buying an additional 576,156 shares during the last quarter. Van ECK Associates Corp grew its position in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in MAG Silver during the first quarter valued at approximately $3,925,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Stock Up 2.9 %

Shares of MAG stock opened at $15.19 on Friday. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 20.77 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Analysts expect that MAG Silver Corp. will post 0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

MAG has been the topic of several analyst reports. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank lifted their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. HC Wainwright boosted their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, MAG Silver has an average rating of “Hold” and an average target price of $18.38.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.